India must grow at 9% to accomplish PM Modi's ambition of $5 trillion economy: EY

11:30:00 PM, Monday 5th of August 2019 | in business

Ernst & Young's latest edition of Economy Watch says that India needs to grow at 9% every 5 years, in order to attain PM Modi's dream of $5 trillion economy. If India grows by a projected 7% in the current FY, the size of the economy will grow to $3 trillion from $2.7 trillion in last year. Assuming an inflation rate of 4% which is the target, a real growth rate close to 9% is must to grow economy to $5 trillion by FY25.